CARES Act: Paycheck Protection Program and EIDL Loan Program
In order to address the challenges faced by small businesses, self-employed individuals, and independent contractors, the CARES Act expands existing loan programs and creates additional loan programs offered through the Small Business Administration (or SBA).
Understanding Basic Contracts: The (Ir)Relevant Title
A client reached out yesterday to ask what the difference was between an independent contractor agreement and a master services agreement. He had two sitting in his inbox – different titles, though they were for the same project. At their […]
Understanding Basic Contracts: The Payment Provision
I know, it seems like a simple contractual provision. It can be, but a lack of detail in the payment section of a contract can be disastrous. Take the following provision for example: Payment: “Contractor shall be paid $40,000 for […]
Understanding Basic Contracts: The Indemnification Clause
One of the most confusing, yet critical, sections of a contract is the indemnification section. Hard word, hard section. Hopefully this blog will help. “To indemnify” means to compensate someone for his/her harm or loss. In most contracts, an indemnification […]
Understanding Basic Contracts: Terminating for Material Breach
All contracts will have a term (length of the agreement) and termination (how you terminate the agreement) clause. Well, they should have a termination clause. As I wrote last time, it’s important to take great care in reviewing your contracts […]
Understanding Basic Contracts: The Termination Clause
A client of mine called me last week to express her frustration with a vendor. The vendor wasn’t turning around the work in a timely fashion, and this was severely impacting her business. She wanted out of the contract. My […]
The Three Levels of Control Within an Organization
A common misconception in any startup is thinking ownership percentage equates directly with control. While it’s true that the majority equity holder(s) usually controls the business, this isn’t necessarily always the case. Let’s break it down. Day-to-Day Operations Day-to-day operations […]
Finding a CPA
As I’ve discussed before, the four external pillars of any small business are a lawyer, a CPA, a banker, and an insurance broker. Each of these professionals will be critical to the growth and health of your business. The first […]
Make An Investment In Legal
A question I often hear from startups when discussing initial legal work is, “How much will this cost?” This is the wrong question – most startups are looking at their legal expense the wrong way. They should be asking, “How […]
What’s The Difference Between A Small Business And A Startup?
What’s the difference between a small business and a startup? Structurally – a lot. Operationally – not much. And I’ll explore that throughout this series. To me, startups are a subset of small businesses. They are both initially owned by […]